A team of around ten experts of the brokerage consortium made upof Raiffeisen Capital&Investment, ING Bank and BRD-SocGen hasthe task of preparing the most important listing in the history ofthe Bucharest Stock Exchange (BSE), with the drawing up ofdocumentation through which Fondul Proprietatea (Property Fund -FP) starts trading as the biggest challenge.
With assets of around 3bn euros, 500m-euro cash in accounts andstakes in the most important companies in the economy, FP isgetting ready to become the most valuable issuer of the BucharestStock Exchange.
Since the Romanian state, the majority shareholder in the Fund,decided the Fund should be listed directly, without carrying out asecondary public offering, the main mission of the selected brokeris to draw up the admission to trading prospectus. Starting August18, the date the Fund was registered with CNVM, the broker has 90working days to bring the Fund on the BSE.
Getting FP listing ready will be much different from that of energycompanies as the Fund's starting trading on the Stock Exchange willmean for its shareholders their getting compensations for theproperties confiscated by the communist regime.
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